Data room technologies allow a wide range of business fields to securely share documents during due diligence, M&As partnering, asset sale and fundraising. Private equity and investment bankers managers, as well as legal and accounting firms often use these tools.

Modern data rooms are cloud based and offer security that is enterprise-grade, even when accessed from devices like tablets, computers, or smartphone. Users can also track who views which documents and for how long. They also have customized watermarks that display the colors of a company’s logo and contain the terms of service that all users must agree to before downloading or printing documents.

Most modern data room vendors also have a variety of options for customizing the appearance and feel of their virtual data rooms. These include drag-and-drop functionality. They can also include indexing to facilitate document navigation and full-text search. They can be used to determine which documents are viewed most and provide analytics reports to the manager.

iDeals Citrix, and Datasite are among the most well-known online data room companies. All three have a good reputation for access security and have multiple layers of protection. For instance, iDeals offers multi-factor authentication and granular authorizations. Citrix offers a user security impersonation function and Datasite allows you to restrict access based on IP address.

Other features that are common to the majority of data room platforms include an integrated interface for mobile and desktop computers, an intuitive search engine, and advanced collaboration tools. These tools allow teams to collaborate more efficiently, regardless of the location or device. Users can also use tags and annotation functions to quickly access and share important documents. They can also take advantage of how to calculate sales revenue the redaction capabilities that many modern data rooms offer, which black out portions of files so that personally-identifiable information stays private.